FLC vice president was sanctioned for concurrently holding many positions

On April 6, the State Securities Commission just issued a decision on penalize administrative violations in the field of securities and the stock market for Ms. Huong Tran Kieu Dung – Standing Vice Chairman of FLC Group.

She was fined 70 million dong for violating regulations on corporate governance (the extenuating circumstance “administrative violators have voluntarily remedied the consequences” was applied as prescribed in Clause 1, Article 9 of the Law on Corporate Governance. Handle administrative violations).

During the period from May 2020 to October 2021, Ms. Dung was a member of the Board of Directors of FLC Group and held the same position at 6 other companies. Meanwhile, according to the provisions of the Securities Law, a member of the Board of Directors of a public company cannot concurrently hold this position in more than 5 other companies.

Ms. Huong Tran Kieu Dung is concurrently the Chairman of the Board of Directors in 7 enterprises. Photo: FLC.

According to the management report of FLC Group at the end of 2021, Ms. Dung is both Vice Chairman of the Board of Directors and holds a series of senior positions at member companies.

Specifically, she is currently the Chairman of the Board of Directors in 7 companies including: BOS Securities, FLC Faros Construction, FLC Travel, FAM Agricultural Product Import-Export and Production, FLC Do Son Golf & Resort, Development Investment and Management Management of FLC Industrial Park, Cemaco Vietnam.

In addition, the businesswoman is also a member of the Board of Directors at 2 companies including FLCHomes, Hotel Management Company and FLC Resort.

Ms. Dung holds a PhD in Construction Law from the University of Montesquieu Bordeaux IV, France. She used to be the main lawyer of SMiC Law Firm – the predecessor of FLC Group since 2013.

After that, this individual continued to be appointed to senior management positions such as Head of Legal and Project Development Department, Deputy General Director before becoming General Director. Ms. Dung stopped taking the position of General Director in March 2020.

Before that, Mr Trinh Van Quyet was also administratively fined by the Securities Commission at the highest bracket of VND 1.5 billion due to the act of illegally selling a large amount of FLC shares. After that, Mr. Quyet was arrested and detained by the Investigative Police Department of the Ministry of Public Security for manipulating the stock market. Therefore, the administrative penalty for Mr. Quyet was canceled on April 5.

According to Zing